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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
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Barrick Gold (GOLD - Free Report) closed the most recent trading day at $19.42, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.37% gain on the day.
Heading into today, shares of the gold and copper mining company had gained 4.43% over the past month, lagging the Basic Materials sector's gain of 4.74% and outpacing the S&P 500's gain of 2.13% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. This is expected to be November 4, 2021. In that report, analysts expect GOLD to post earnings of $0.25 per share. This would mark a year-over-year decline of 39.02%. Meanwhile, our latest consensus estimate is calling for revenue of $2.98 billion, down 15.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $12.03 billion. These totals would mark changes of +2.61% and -4.48%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GOLD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.32% lower within the past month. GOLD is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, GOLD currently has a Forward P/E ratio of 16.43. For comparison, its industry has an average Forward P/E of 15.58, which means GOLD is trading at a premium to the group.
It is also worth noting that GOLD currently has a PEG ratio of 8.22. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Gold stocks are, on average, holding a PEG ratio of 2.8 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Barrick Gold (GOLD) Outpaces Stock Market Gains: What You Should Know
Barrick Gold (GOLD - Free Report) closed the most recent trading day at $19.42, moving +0.57% from the previous trading session. This change outpaced the S&P 500's 0.37% gain on the day.
Heading into today, shares of the gold and copper mining company had gained 4.43% over the past month, lagging the Basic Materials sector's gain of 4.74% and outpacing the S&P 500's gain of 2.13% in that time.
Wall Street will be looking for positivity from GOLD as it approaches its next earnings report date. This is expected to be November 4, 2021. In that report, analysts expect GOLD to post earnings of $0.25 per share. This would mark a year-over-year decline of 39.02%. Meanwhile, our latest consensus estimate is calling for revenue of $2.98 billion, down 15.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.18 per share and revenue of $12.03 billion. These totals would mark changes of +2.61% and -4.48%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for GOLD. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.32% lower within the past month. GOLD is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, GOLD currently has a Forward P/E ratio of 16.43. For comparison, its industry has an average Forward P/E of 15.58, which means GOLD is trading at a premium to the group.
It is also worth noting that GOLD currently has a PEG ratio of 8.22. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Gold stocks are, on average, holding a PEG ratio of 2.8 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.